There are some things that the Government is doing to help buyers at the closing table. The intent is to lower some of the fees that a buyer would see at closing. This article covers some of those fees. It is important to note that the government involvement in this matter does not always lower the fees as much as they claim.
It is crucial for buyers to be aware of what the fees would be and the Good Faith Estimate (GFE) covers most of them but often fees are added in the end which could be a burden for the buyer. These extra fees are what the governemnt is trying to stop and will succeed to minimize them a little. It is helpful for the realtor to direct buyers to do their due diligence on the subject. Some of the forms are even difficult to understand for Lawyers so it is important to take the proper time to understand what issues could arise at the closing.
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